Iran: Domestic billets, rebars prices surge amid positive market sentiments

Iran’s domestic billets and rebars prices continued its upward trend amid supply concerns due to lack of direct reduced iron (DRI) in the market. Moreover, hike in scrap prices and increase in value of dollar against Rial have also supported prices.

• Steel billets prices rose by 5,000 Rial/Kg to 147,500 Rial/Kg as against 7 Dec’22.
• Rebars prices stood at 172,000 Rial/Kg on 12 Dec, an increase of 3,500 Rial/Kg.